Qingdao Established China-SCO Institute of Economy and Trade to Cultivate Talents for SCO Member States

QINGDAO, China--(BUSINESS WIRE)--At the 21st Meeting of SCO Council of Heads of State held on September 17, 2021, Chinese President Xi Jinping announced that “China will establish China-SCO Institute of Economy and Trade to foster multilateral economic and trade cooperation under the SCO.” On September 18, the Ministry of Commerce of China made it clear that China-SCO Institute of Economy and Trade would be established on the basis of SCO Demonstration Area.

China-SCO Institute of Economy and Trade was officially inaugurated in January 2022. It is stipulated that the SCO Demonstration Area is in charge of promoting the program and Qingdao University implements the program. It operates the president responsibility system under the leadership of the council. The Institute is committed to building a globally influential open platform for research institutes, universities and industry with SCO characteristics. With a total building area of about 10,500 square meters, the teaching building in the transitional period is equipped with 21 classrooms, 1 reading room, 2 livestreaming studios, 6 teachers’ offices, 10 conference rooms, 2 halal restaurants, etc., which meet the needs of 1,200 teachers and students in their living and study.

Relying on the educational resources of universities such as Qingdao University and Shandong Foreign Trade Vocational College, the Institute carries out online and offline training. So far, the Institute has held 81 training sessions on foreign aid and economic and trade training such as capacity building seminar on cross-border e-commerce poverty alleviation and sustainable development for young people in developing countries, basic course on cross-border import - Kazakhstan session, Uganda seminar on e-commerce and trade and investment promotion, benefitting 7,200 trainees from SCO member states and countries related to the Belt and Road Initiative.

The SCO Demonstration Area will build a cooperation platform in a more open manner, and promote the development of the Institute in order to facilitate multilateral economic and trade cooperation for SCO member states. It helps the Institute cultivate forward-looking utilitarian personnel with an international vision who can engage in economic and trade work, and foster pragmatic cooperation with SCO member states in the fields of economic and trade cooperation, people-to-people exchanges, etc.

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